Equity capital markets – small-mid cap in London

CMS

Recommended as ‘highly knowledgeable on all key legal areas’, CMS ‘brings this knowledge to transactions to help navigate difficult topics and advanced transactions’. The firm has particular strength in the European and Asian markets, combining this with an integrated US securities law capability. Providing ‘excellent sector expertise’, the team advises a range of issuers including FTSE 250 companies. Practice head Alasdair Steele is an experienced capital markets and corporate lawyer, advising banks and issuers on Main Market and AIM matters, including trading companies and listed funds, as well as domestic UK and overseas issuers.

Practice head(s):

Alasdair Steele

Other key lawyers:

Graeme Bruce; James Parkes

Testimonials

‘Excellent communication and practical, proactive advice.’

‘Approachable, accessible – really felt that they were part of our team and as invested in completing the IPO as we were. As a new company to market, we received an enormous amount of support, guidance (practical and informed, no jargon) and they went above and beyond to answer questions, problem solve and manage us through the process.’

‘Fantastic firm. All round strength. Well staffed and reasonable pricing. Excellent sector expertise as required. Good commercial judgement. Big fan of James Parkes and his associates.’

‘James Parkes is an outstanding lawyer. The safest pair of hands, commercial, high class advice and a credit to CMS.’

‘Graeme Bruce provides a high level of partner involvement.’

‘Graeme Bruce has years of experience and is very hands on in transactions’

‘The team is very strong in the SMID cap space on equity transactions. It is highly knowledgeable on all key legal areas and brings this knowledge to transactions to help navigate difficult topics and advance transactions. The team is widely available at a senior and junior level.’

‘They have a level of experience that sets them apart from many of their peers in the same space and a depth of team to ensure transactions receive consistent support.’

Key clients

Tortilla Mexican Grill

ActiveOps

Big Yellow Storage

Aquila

London Metric

Sequoia Economic Infrastructure Fund

Numis Securities

Peel Hunt

Stifel Nicolaus Europe Limited

Smart Metering Systems

Work highlights

  • Advised ActiveOps on its successful IPO and admission to trading on AIM.
  • Advised Tortilla Mexican Grill on its successful listing and admission to trading on the AIM market of the London Stock Exchange.
  • Advised Smart Metering Systems on its latest £175m equity placing.

DLA Piper

With a sweet spot in the mid-market, DLA Piper covers the main market of the London Stock Exchange and AIM. The firm advises on transfers between the London Stock Exchange’s markets and handles issuer and underwriter transactions, as well as equity funded M&A activity. Another key selling point for the practice is its London and EU-based US securities expertise. Alex Tamlyn spearheads the team and his experience includes corporate finance work, UK and international securities offerings, Class 1 acquisitions and disposals, schemes of arrangement and securities regulation. Key names in the team are Martin Penn, who handles a range of ECM transactions; and legal director Karin Kirschner, whose strengths are AIM and Main Market transactions.

Practice head(s):

Alex Tamlyn

Other key lawyers:

Martin Penn; Karin Kirschner

Key clients

Watkins Jones

Dignity Funerals plc

PureTech Health plc

Allied Minds plc

Dechra Pharmaceuticals plc

Aptitude Software Group plc

Learning Technologies Group plc

RPS Group plc

Medica Group plc

John Menzies plc

Knights Group Holdings plc

Mothercare plc

Staffline Group plc

International Personal Finance plc

Montana Aerospace AG

Eurasia Mining plc

Science Group

Abry Partners

Brickability Group plc

Keyword Studios plc

MKS Instruments

Philip Morris International

HUTCHMED China

Keller Group plc

CVS Group plc

Work highlights

  • Advising Learning Technologies Group (LTG) on its placing of new ordinary shares, which raised gross proceeds of £85m.
  • Advising Staffline on transforming its balance sheet through an equity fundraise (structured as a placing, subscription and open offer, which in aggregate raised £48.4m) and a debt refinance (providing for up to £105m).
  • Advising an investment bank syndicate comprising Goldman Sachs, Canaccord Genuity, finnCap and Numis as Joint Bookrunners on Ideagen’s placing to institutional investors and primary bid offer.

Norton Rose Fulbright

Mid-market specialist Norton Rose Fulbright advises on the issuer and bank side of deals, with particular experience in the latter. The firm has an extensive global network and expertise across a range of sectors, notably the pharmaceuticals, REIT and real estate industries. The practice’s advice runs the gamut of equity and equity-related transactions, including FTSE 100, AIM and listed fund matters. Richard Sheen is a go-to name in the area and focuses on equity capital markets and investment funds work. Expert in IPOs, equity fund raisings and sponsor transactions Fiona Millington is recommended as ‘a safe pair of hands‘, and Clementine Hogarth is also active in the space - her fortes being ECM and corporate advisory work for public companies and investment banks. Raj Karia leads the group.

Practice head(s):

Raj Karia

Other key lawyers:

Richard Sheen; Fiona Millington; Clementine Hogarth; Alexander Green; Ian Forbes

Testimonials

‘Great service, always available to deal with detailed questions.’

‘Clementine Hogarth and Ian Forbes provided a great service to solve problems and deal with unprecedented deal situations.’

‘Fiona Millington is a safe pair of hands.’

‘Clementine Hogarth is a really energetic and proactive lawyer, full of enthusiasm.’

‘Alexander Green is a very strong lawyer, one to watch.’

Key clients

Numis Securities Limited

Peel Hunt

Canaccord Genuity Limited

Cantor Fitzgerald

Mortgage Advice Bureau Holdings

Grant Thornton

Investec Bank plc

Tullow Oil plc

Taylor Maritime Investments Ltd

J.P. Morgan Securities plc.

Goldman Sachs International

Orascom

Aedifica

Warehouses de Pauw (WDP)

Taleem Management Services

Xior Student Housing

Ekopak

Work highlights

  • Advised Peel Hunt LLP and Stifel Nicolaus Europe Limited as joint global coordinators and joint bookrunners and Grant Thornton as nominated adviser on leading UK mid and small cap investment bank’s Peel Hunt Limited’s £280m placing of new and existing shares, an intermediaries offer, an employee offer and admission to trading on AIM.
  • Advised Investec Bank plc as sponsor, sole global co-ordinator and sole bookrunner on the £274m IPO and premium listing on the London Stock Exchange of Stelrad Group PLC, a leading specialist manufacturer and distributor of steel panel radiators in the UK, Europe and Turkey.
  • Advised Taylor Maritime Investments Limited on its IPO and premium listing on the London Stock Exchange.

Pinsent Masons LLP

Known for its small-mid cap expertise, Pinsent Masons LLP has ‘a highly responsive and cohesive service across disciplines, underpinned by the key foundation of excellent understanding of both regulation and market practice’. The firm provides sector specialisms in the online retail, life sciences and technology industries, combined with experience across the spectrum of AIM market matters. Julian Stanier spearheads the practice, advising international and UK issuers and investment banks on IPOs and equity fundraisings in London and abroad. Other key names in the area include Gareth Jones, who focuses on ECM and M&A, notably AIM transactions, IPOs, secondary offerings and public takeovers; and legal director Adam Cain, who specialises in public M&A and equity capital markets matters.

Practice head(s):

Julian Stanier

Other key lawyers:

Gareth Jones; Alan Diamon; Adam Cain; Alasdair Weir

Testimonials

‘Practical, partner led advice.’

‘Julian Stanier provides pragmatic commercial advice, delivering to tight timetables whilst remaining highly engaged throughout the process.’

‘A good all round team offering excellent value and advice (not just options).’

‘Responsive, accessible and a range of detailed knowledge.’

‘My experience of Pinsent Masons is that they offer thoughtful and measured advice and have been very supportive to both myself and my team. I have absolute confidence in the advice they give me and that they will think through the issues and come up with sensible proposals.’

‘I have found my lead partner at Pinsents, Julian Stanier, to be a wise and measured advisor who listens carefully and brings helpful and sensible advice to any issue. He is well supported by a hard working and friendly team.’

‘My experience of the team at Pinsent Masons LLP is that they deliver a highly responsive and cohesive service across disciplines, underpinned by the key foundation of excellent understanding of both regulation and market practice.’

‘There is a strong breadth of understanding across the team, who deliver reliable, proactive advice, and can leverage the experience of other specialist teams from across their firm as necessary (for example banking & finance, employment and restructuring). They effectively allocate resources from across their firm, particularly associates, to ensure they deliver timely advice and draw upon the full experience of the team.’

Key clients

Zeus Capital Limited

Sirius Real Estate

4D pharma plc

Facilities by ADF

ANGLE plc

Strip Tinning Holdings plc

Cenkos Securities plc

Linde plc

WH Ireland Limited

Craneware Plc

Seraphine Group plc

Investec Bank plc

Liberum Capital Limited

Canaccord Genuity Limited

Singer Capital Markets Limited

Numis Securities Limited

Induction Healthcare Group plc

SP Angel Corporate Finance LLP

Springfield Properties plc

Jersey Oil & Gas plc

Work highlights

  • Advised Seraphine Group plc on its £150.2m IPO and admission to the premium listing segment of the Official List and to trading on the London Stock Exchange’s main market for listed securities.
  • Advised Arena Events Group plc on a recommended all cash offer by joint offerers IHC Industrial Holding LLC and Tasheel Holding Group LLC.
  • Advised Sirius on an accelerated bookbuild share placing on both the London and Johannesburg stock exchanges which raised gross proceeds of £137m to part-fund the £380m acquisition of BizSpace, a leading provider of regional flexible workspace.

Stephenson Harwood

Focusing on mid-cap work, Stephenson Harwood is particularly active at the top end of the AIM market and its ‘excellent specialist knowledge’ includes funds and trading companies matters. Acting on the company and bank side, the firm handles a range of IPOs, secondaries and takeovers, notably the takeover of listed companies. The deep bench is led by AIM market expert Tom Nicholls and includes David Dowding, who advises corporates, investment banks and brokers on Main Market and AIM IPOs, secondary fundraisings and public takeovers.

Practice head(s):

Tom Nicholls

Other key lawyers:

Jack Digby; Tom O’Connor; David Dowding; Carolyn Hall; Tom Page

Testimonials

‘Highly responsive to client requests and excellent specialist knowledge.

‘Partner remained involved and fully engaged throughout our IPO. Tremendous dedication.’

‘Very responsive and user friendly. Efficient and effective. Good advice.’

‘Found Jack Digby and Tom O’Connor to be excellent to work with – nothing was too much trouble.’

Key clients

Aberdeen UK Tracker Trust

Acacia Pharma Group plc

Acorn Income Fund Limited

Akur Limited

Allianz Global Investors GmbH

Allianz Technology Trust PLC

Alternative Asset Opportunities PCC Limited

Alternative Credit Investments plc

Alternative Liquidity Fund Limited

Alvarium RE Limited

Alvarium Securities Limited

APQ Global

Arden Partners plc

Aseana Properties Limited

Ashoka India Equity Investment Trust plc

Atlantis Japan Growth Fund Limited

Augmentum Capital LLP

Augmentum Fintech plc

AVI Japan Opportunity Trust plc

BB Healthcare Trust plc

Big Society Capital Limited

BDO LLP

Berenberg

BlackRock Income & Growth Investment Trust plc

BlackRock Smaller Companies Trust plc

BlackRock Throgmorton Trust plc

Camper & Nicholsons Marina Investments Limited

Canaccord Genuity Limited

Cantor Fitzgerald Europe

CC Japan Income & Growth Trust plc

Cenkos Securities plc

City of London Investment Trust plc

Corevestis Portfolio Management GmbH

Coupland Cardiff Asset Management

Development Partners International LLP

Dr. Peters Holding GmbH

Dragon Capital Limited

Draper Esprit VCT plc

easyHotel plc

Eighteen East Capital Limited

E-Therapeutics Plc

European Opportunities Trust plc

European Real Estate Investment Trust Limited

Fair Oaks Income Limited

finnCap Limited

Focusrite plc

GCP Infrastructure Investments Limited

Geiger Counter Limited

Gore Street Capital Limited

Gore Street Energy Storage Fund plc

Gravis Advisory Limited

Gravis Capital Management Limited

Grit Real Estate Income Group Limited

Gulf Investment Fund plc

Henderson Global Trust plc

Henderson International Income Trust Fund

Henderson Value Trust

Hipgnosis Song Management Limited

Home REIT plc

Hotel Chocolat plc

Impax Asset Management Group plc

Invesco Fund Managers Limited

Investec Bank plc

Jefferies International Limited

J.P. Morgan Cazenove

Jupiter Emerging & Frontier Trust plc

Jupiter UK Growth Investment Trust PLC

Jupiter Green Investment Trust plc

Liberum Capital Limited

Lowland Investment Company plc

LXI REIT plc

Kudu Investment Management, LLC

Landore Resources Limited

Manchester & London Investment Trust plc

Manolete Partners plc

MIGO Opportunities Trust PLC

Mobius Capital Partners LLP

Mobius Investment Trust plc

Nichols plc

Novacyt SA

Numis Securities

Oakley Capital Investments Limited

Oncimmune Ltd

Panmure Gordon (UK) Limited

Peel Hunt LLP

PMM Partners

Premier Miton Global Renewables Trust plc

Premier Miton Investors

Qatar Investment Fund plc

Sancus Lending Group Limited

Scape Living plc

Scape Student Living Limited

Schroder British Opportunities Trust plc

Schroder BSC Social Impact Trust plc

Schroder Investment Management Limited

Schroder Real Estate Investment Management Limited

Schroder UK Public Private Trust plc

Secured Income Fund plc

Seraphim Space Investment Trust plc

Seraphim Space (Manager) LLP

Shield Therapeutics plc

Shore Capital and Corporate Limited

Singer Capital Markets

SP Angel

Stifel Nicolaus Europe Limited

Stockdale Securities Limited

Strand Hanson Limited

Strategic Equity Capital plc

Sturgeon Capital Limited

SuperSeed Capital Limited

SuperSeed Ventures LLP

The Bauhaus Investment Trust plc

The Bankers Investment Trust PLC

The Brunner Investment Trust PLC

The Diverse Income Trust plc

The Merchants Trust PLC

Victory Park Capital Advisors

Vietnam Enterprise Investments Limited

Vietnam Holding Limited

WH Ireland

Whiteoak Capital Group

Winterflood Securities Limited

Work highlights

  • Advised Liberum, as nomad and sole broker, on the £70m initial public offering of Tortilla Mexican Grill Plc, on the London Stock Exchange’s AIM.
  • Advised on the IPO of the first London listed space fund. The deal saw the launch of Seraphim Space Investment Trust plc, with a mandate to invest in early and growth stage privately financed space tech businesses.
  • Advised British chocolatier Hotel Chocolat Group plc on its £40m fundraising by way of a secondary placing of new ordinary shares, as well as an additional retail offer made via the PrimaryBid platform.

Travers Smith LLP

Strong in the technology and financial services sectors, Travers Smith LLP provides ‘a strong partner led team, with a depth of knowledge across the group’. The firm’s ECM work includes assisting issuers, financial institutions, management, selling shareholders and cornerstone investors on IPOs, secondary issuances and other transactional matters. Head of corporate Spencer Summerfield co-leads the team with Andrew Gillen, who advises companies and underwriters on a range of ECM transactions. Notable in the area is Richard Spedding, who acts as underwriter or issuer counsel and is a stand-out name in mid-market investment bank matters in London. The broad team also includes Tom Coulter, who specialises in advising clients on public and private mergers, acquisitions and disposals, corporate joint ventures, IPOs and equity fundraisings; and Adrian West, who focuses on advising corporate issuers, investment banks and management teams on IPOs and secondary fundraisings on the Main Market and AIM.

Practice head(s):

Spencer Summerfield; Andrew Gillen

Other key lawyers:

Richard Spedding; Tom Coulter; Adrian West

Testimonials

‘Richard Spedding is a very commercial, experienced lawyer. Very user friendly.’

‘A strong partner led team, with a depth of knowledge across the group. Proactive and efficient and show a pragmatic approach to achieve desired outcomes.’

Key clients

Foresight Group

Marks Electrical

McColl’s Retail Group

Distribution Finance Capital

Benchmark

Marwyn

Jefferies

Numis

Berenberg

Liberum

Peel Hunt

Investec

finnCap

Arden Partners

Deutsche Bank

J.P Morgan Cazenove

Work highlights

  • Advised Foresight Group on its £455m Main Market IPO.
  • Advised Berenberg on the £255m AIM IPO of LendInvest Plc.
  • Advised Jefferies on the IPO of Taylor Maritime Investments Limited.

Addleshaw Goddard

Known for transactions involving AIM and Main Market listed companies, Addleshaw Goddard provides experience in acting for issuers, financial advisers, brokers, financial intermediaries and investors across a range of industry sectors. The firm is recommended for its ‘great technical expertise, especially in Takeover Code matters’. Private and public M&A specialist Nick Pearey leads the team that includes the ‘extremely diligent and pragmaticGiles Distin, who has ‘expert knowledge of the public market rules’. Distin focuses on transactions involving UK listed companies and advising on UK PLC regulation and compliance.

Practice head(s):

Nick Pearey

Other key lawyers:

Giles Distin; Roger Hart

Testimonials

‘Great technical expertise, especially in Takeover Code matters. Very enthusiastic and helpful.’

‘The corporate team at Addleshaw Goddard is an expert in small-mid cap deals and provides excellent value for money.’

‘We work regularly with Giles Distin on both ECM and Public M&A deals, who is efficient and has excellent technical knowledge – particularly of the Takeover Code. We would never hesitate to instruct him.’

‘Roger Hart leads and has a depth and breadth of experience, combined with a very hands on personal approach. Clients consistently report enjoying working with him.’

‘Addleshaw Goddard are an experienced, reliable law firm. Their work has always been of a high quality and delivered on time. They are able to advise on a broad spectrum of issues and I always feel like I am getting expert advice.’

‘High quality individuals. In particular, I would mention Giles Distin, who proved himself to be extremely diligent, pragmatic and had an expert knowledge of the public market rules.’

Key clients

Allenby Capital Limited

Alpha Financial Markets Consulting plc

Berenberg

Entain plc

Fenchurch Advisory Partners LLP

finnCap

genedrive plc

GENinCode plc

LBG Media plc

IMImobile plc

Immunodiagnostic Systems Holdings Plc

Investec Bank plc

JD Sports Fashion plc

J.P. Morgan Cazenove

Liberum Capital Limited

musicMagpie plc

NAHL Group plc

On The Beach plc

Rathbone Brothers plc

Raymond James Financial International Limited

Sanne Group plc

Shore Capital

Singer Capital Markets

Team17 Group plc

Teneo Corporate Finance

WG Partners

Zeus Capital Limited

Ashurst

Known for its breadth of practice, Ashurst acts for issuers, shareholders and leading investment banks across a range of ECM transactions, notably de-mergers. The firm also has substantial US securities expertise. Nicholas Holmes is ‘one of the leading legal minds and legal voices in the London ECM market’. He co-leads the practice with Jennifer Schneck, who advises corporate clients and investment banks on global securities offerings; and Stuart Rubin, whose fortes are international equity capital markets and M&A transactions across Europe and Asia. Another notable name in the team is Simon Bullock, who is recommended as ‘very strong in UK capital markets‘.

Practice head(s):

Nicholas Holmes; Jennifer Schneck; Stuart Rubin

Other key lawyers:

Simon Bullock

Testimonials

‘Nicholas Holmes is an excellent practitioner. Top drawer and a brain the size of planet.’

‘Simon Bullock is very strong in UK capital markets.’

‘Nicholas Holmes is one of the leading legal minds and legal voices in the London ECM market. He is straightforward, commercial, doesn’t settle for the ‘easy’ answer and crucially he always has a view. I always feel in very safe hands when he is advising me – and know I’ll be treated fairly when he’s advising on the other side. He is one of my go-to lawyers on a wide range of matters.’

Key clients

Goldman Sachs

Morgan Stanley

Softcat

Jefferies

Barclays

Bank of America Merrill Lynch

Numis

EnQuest

Citi

Credit Suisse

Chesnara

Tritax EuroBox

Lamprell

J.P. Morgan

Peel Hunt

Deutsche Bank

Work highlights

  • Advised Numis Securities Limited and J.P. Morgan Cazenove in connection with a £244m equity fundraising by way of a cash box placing by Auction Technology Group plc.
  • Advised Jefferies in connection with a $433.5m class 1 disposal by PureTech Health plc.
  • Advised Peel Hunt in connection with its £280m IPO.

Bryan Cave Leighton Paisner LLP

Particularly dedicated partnerAlexander Keepin leads the Bryan Cave Leighton Paisner LLP team and specialises in IPOs and secondary issuances on the Main Market and AIM. The ‘efficient, technically on point and very commercial’ practice is known for advising AIM listed clients and those looking to list on AIM. The firm provides global reach and notable expertise in the energy and natural resources sectors. Benjamin Lee is also recommended as ‘an extremely versatile adviser with the full range of skills across public markets and private M&A’.

Practice head(s):

Alexander Keepin

Other key lawyers:

Benjamin Lee; Nick Myatt; Kurt Ma; Marie Johnson

Testimonials

‘We consistently use the Corporate Finance team at Bryan Cave Leighton Paisner and they consistently provide an excellent service. The team are efficient, technically on point and very commercial. They are very much our trusted legal advisers. Work aside, they are also a personable team who we enjoy working with very much.’

‘We rate Ben Lee at BCLP very highly. He is commercial and an excellent lawyer. He is an extremely versatile adviser with the full range of skills across public markets and private M&A as well as private equity. We also work very closely with three other corporate partners, Nick Myatt, Kurt Ma and Marie Johnson who are all very good too.’

‘Very knowledgeable and experience team. Dedicated and highly available.’

‘Great human skills, pleasant to work with.’

‘We work regularly with Alexander Keepin on UK small cap energy & natural resources ECM transactions. They have a thorough grasp of the key issues and market practice, both issuer and bank side. Their client board portal is notably intuitive and user-friendly.’

‘Alexander Keepin is particularly dedicated partner in the space and can be relied upon to maintain a high level of partner involvement at all phases of a transaction.’

Key clients

Wheaton Precious Metals

Peel Hunt

Vision Blue Resources Ltd

Alkemy Capital Investments plc

Pensana Plc

Pantheon Resources

Ncondezi Energy

Trident Royalties

finnCap Ltd

i (x) Net Zero Plc

BMO Capital Markets Limited

Alkemy Capital Investments plc

Work highlights

  • Advised Trident Royalties Plc, the growth-focused mining royalty and streaming company, on four deals including the transformational acquisition of Gold Offtakes for $68m.
  • Advised Vision Blue Resources Ltd, a newly created battery commodity/resource-focused investment company, on its up to $12.6m investment in Ferro-Alloy Resources Limited.
  • Advised i(x) Net Zero PLC, the investing company which focusses on Energy Transition and Sustainability in the Built Environment, on its initial public offering on AIM.

Eversheds Sutherland (International) LLP

Experienced in Main Market and AIM matters, Eversheds Sutherland (International) LLP handles IPOs, reverse takeovers, fundraisings, and public and private M&A for domestic and international clients. Cross-border work is a particular forte for the group, that can draw from a broad international footprint. Corporate specialist Richard Moulton co-leads the team with Stephen Nash, who focuses on equity capital markets and public company takeover transactions.

Practice head(s):

Stephen Nash; Richard Moulton

Other key lawyers:

Ali Cree; Mark Roe

Testimonials

‘The firm is a big firm yet gives a smaller firm feel: the level of attention and partner service is excellent. Eversheds consistently make you feel like their number one client which I really appreciate.’

‘Ali Cree is both technically excellent and down to earth. He gives commercially focused and pragmatic advice. He really makes the effort to understand our business and what/how I want my advice given.’

‘Mark Roe (London, Corporate) is very commercial which is much appreciated by busy clients who don’t need lecturing on the law – they need solutions, which he delivers efficiently.’

Key clients

ProCook Group plc

Genuit Group plc

NewRiver REIT plc

Lookers plc

Integrafin Holdings plc

Eurocell plc

Tyman plc

Norcos plc

Gresham House Energy Storage Fund plc

VH Global Sustainable Energy Opportunities plc

Fieldfisher

Specialising in the energy, natural resources and life sciences sectors, Fieldfisher handles IPOs/listings in the UK and Europe, secondary issuances and M&A deals involving listed companies. Practice head Brad Isaac has a particular focus on energy and natural resources mandates, as well as advising on ECM matters related to technology and life sciences companies, acting for issuers and brokers. Also active in the area is Edward Westhead, whose focus is the life sciences and healthcare sector, as well as advising on energy, natural resources and technology ECM deals.

Practice head(s):

Brad Isaac

Other key lawyers:

Dominic Gurney-Champion; Edward Westhead

Testimonials

‘The corporate team is filled with excellent lawyers. Pragmatic, personable and high quality. I could not recommend them highly enough.’

‘Dominic Gurney-Champion is one of the very best I have known in 20 years in public markets. He has deep expertise in small/mid cap companies. He is a strategic thinker and is always available, and importantly, always gives ‘partner time’ on a project. He is typical of the pragmatic and commercial advice you get from this firm. He is exceptional and a credit to the industry.’

‘The team is very approachable and they have a good number of experienced partners that are easy to speak with on complex issues.’

Key clients

Abingdon Health PLC

Access Intelligence PLC

ADVFN PLC

Amur Minerals Corporation

Ascent Resources PLC

Atalaya Mining PLC

ATOME Energy plc

Beowulf Mining PLC

Best of the Best PLC

Byotrol PLC

Central Asia Metals PLC

Checkit PLC

Cornish Metals Inc.

Craven House Capital PLC

CT Automotive Group plc

Devolver Digital, Inc.

Echo Energy PLC

eEnergy Group PLC

EQTEC PLC

Gelion PLC

GlobalData PLC

Gusbourne PLC

Harland & Wolff Group Holdings plc

Haydale Graphene Industries PLC

Hurricane Energy PLC

Independent Oil and Gas PLC

InnovaDerma plc

Inspiration Healthcare Group PLC

Itaconix PLC

Jaywing PLC

KEFI Gold and Copper plc

Kodal Minerals PLC

KRM22 PLC

Live Company Group PLC

Made Tech Group plc

Marlowe PLC

Merit Group plc

Nu-Oil and Gas PLC

Online Blockchain PLC

Pires Investments PLC

President Energy PLC

Property Franchise Group (The ) PLC

Public Policy Holding Company, Inc.

Restore PLC

Saietta Group plc

San Leon Energy PLC

Savannah Resources plc

Seeing Machines Ltd

SigmaRoc PLC

Synairgen PLC

Tristel PLC

Velocity Composites PLC

Versarien PLC

Wynnstay Properties PLC

Allenby Capital

Canaccord Genuity

Cenkos Securities

Cormark Securities Inc.

Dowgate Capital

finnCap

Grant Thornton

Joh. Berenberg, Gossler & Co. KG

Liberum Capital Limited

Numis Securities Limited

Panmure Gordon (UK) Limited

Shore Capital

Singer Capital Markets

SP Angel Corporate Finance LLP

Stifel Nicolaus Europe Limited

Strand Hanson Limited

Tamesis Partners LLP

Tennyson Securities Limited

WH Ireland

Zeus Capital Limited

Work highlights

  • Advising award-winning US video game publisher Devolver Digital, Inc. on its admission to trading on AIM, raising $261m and valuing the company at a $950m market cap, making it the second largest ever IPO on AIM.
  • Advising Public Policy Holding Inc., a leading bi-partisan, full service US government affairs business based in Washington DC, on its admission to AIM in December 2021, in combination with a placing raising £30.7m.
  • Advising Access Intelligence on a fundraising and re-admission to AIM, raising £50m to fund the takeover of ASX-listed Isentia Group.

Gowling WLG

Corporate finance partner Charles Bond leads the Gowling WLG practice and has particular expertise advising clients with assets in developed and emerging markets. His team handles Main Market and AIM transactions, acting for issuers and investment management houses as well as investment banks and brokers. The firm provides a full service in the area, drawing from its strengths in corporate, finance, tax, regulatory and dispute resolution. Notable specialisms include technology mandates, cross-border matters and advising mining companies listing on AIM.

Practice head(s):

Charles Bond

Other key lawyers:

David Brennan

Testimonials

‘Very competent team with excellent sector knowledge.’

‘David Brennan is an exceptional lawyer and provides clear, straightforward advice focussed on the key risk issues at hand.’

Key clients

Codemasters Group Holdings plc

Revolution Bars Group plc

Urban Logistics REIT plc

Molten Ventures plc

Phoenix Copper Limited

Bacanora Lithium plc

Bushveld Minerals Limited

AfriTin Mining Limited

Cenkos Securities plc

H&T Group plc

Panmure Gordon Shore Capital and Corporate Limited

Hummingbird Resources plc

Altus Strategies PLC

Shore Capital

Arrow Exploration Corp

Forward Partners Group plc

finnCap Limited

Pyx Resources Limited

SP Angel Corporate Finance LLP

Berenberg (London branch)

Canaccord Genuity

Work highlights

  • Acted on the £248m cash takeover of Bacanora by one of the largest lithium compound producers in the world, Ganfeng Lithium from China.
  • Acted for Canaccord on the dual listing on AIM of the first listed Nigerian gold mining company, Thor Explorations Limited (listed on TSX).
  • Advised finnCap, as financial adviser to Cambria Bidco Limited, on its recommended cash offer for AIM listed company, Cambria Automobiles plc and the cash confirmation statement given by finnCap in the announcement of the offer.

K&L Gates LLP

Active at the top end of the AIM market, K&L Gates LLP has international expertise combined with particular strengths in the energy and technology sectors. The firm advises on the company side, as well as representing nomads and brokers across a range of ECM matters. Paul Tetlow leads the practice and ‘runs a commercial and good value ECM business’. He can call on the expertise of James Green, whose experience includes IPOs and secondary issuances, takeovers and M&A, domestically and internationally.

Practice head(s):

Paul Tetlow

Other key lawyers:

Tom Wallace; James Green

Testimonials

‘Awesome team!’

‘Tom Wallace is great!’

‘The team is led from the top, but is very strongly supported throughout the more junior ranks. The team cares about the outcome, and that is what really makes them different from other big law firms.’

‘As each year rolls by we have now worked with the team for a very long time. We know them well and they fully understand us and our needs well. They are exceptionally diligent, but with a strong commercial acumen, and they care about the securing the right outcome. Both Paul Tetlow and James Green set the tone and ethics from the top, I thoroughly recommend both of them.’

‘Paul Tetlow runs a commercial and good value ECM business with a good US practice.’

‘Paul Tetlow comes highly recommended – he has a very commercial and direct manner which addresses problems and keeps costs down.’

Key clients

Dianomi Group PLC

Longboat Energy PLC

Panmure Gordon (UK) Limited

CML Microsystems PLC

finnCap Ltd

ProPhotonix Ltd

Cenkos Securities plc

Singer Capital Markets

Stifel Nicolaus Europe Limited

AEX Gold

Fonix Mobile plc

Deltic Energy plc

Peel Hunt LLP

Canaccord Genuity Limited

Axonics, Inc.

Work highlights

  • Acted for Dianomi Group plc on its AIM admission and associated £37m placing of new and existing shares.
  • Advising Longboat Energy PLC on three farm-ins (with Equinor, Idemitsu and Spirit Energy), a £35m fundraising and its re-admission to AIM.
  • Advising Panmure Gordon (UK) Limited on the acquisition by Kistos plc of Tulip Oil Netherlands B.V., a fundraising to raise £52.5m and the re-admission of Kistos plc to AIM.

Osborne Clarke LLP

Experienced in IPOs, secondary offerings and public M&A, Osborne Clarke LLP provides broad expertise in the ECM space, a notable specialism being AIM transactions. The firm focuses on high-value listings and follow-on offerings for mid-sized public companies, investment banks and a range of nomads, sponsors and bookrunners. Sectors of particular activity for the practice span the financial services, technology, life sciences, renewable energy and real estate industries. Practice head Jonathan King is ‘a veteran of the UK small/mid cap ECM market’; his team includes senior associate Ed Nisbet, who is recommended for his ‘thorough knowledge of the fundraising process’ and ‘timely advice at every stage’.

Practice head(s):

Jonathan King

Other key lawyers:

Mark Wesker; Stuart Miller; Ed Nisbet

Testimonials

‘We appreciate the responsive and knowledgeable service provided by Osborne Clarke, guiding the company efficiently through every step. Osborne Clarke’s communication with the company and other advisers was excellent.’

‘Mark Wesker’s familiarity with our technology, business model, and leadership team helped to ensure a smooth ‘no surprises’ fundraising project. Ed Nisbet displayed a thorough knowledge of the fundraising process and provided relevant and timely advice at every stage.’

‘Senior-level team actually does the work, and delivers advice in a holistic manner relevant to the needs of the client. Team is led by a highly experienced, 25 year ECM veteran and augmented by a highly capable broader team. Proof is in the pudding – they are highly active.’

‘Jon King, is a veteran of the UK small/mid cap ECM market. His collaborative approach and focus on what’s best for the client, rather than ‘winning’ sets him apart from his competitors.’

‘Stuart Miller has a broad level of transaction experience advising on IPOs, secondary fundraisings, the Listing Rules, DTRs, AIM Rules and Takeover Code.’

Key clients

Cenkos Securities plc

Investec Bank plc

Joh. Berenberg, Gossler & Co. KG, London branch

Liberum Capital Limited

Next Fifteen Communications plc

Elixirr International plc

Creo Medical Group plc

Marshall Motors Holdings plc

In The Style Group plc

Topps Tiles plc

Invinity Energy Systems plc.

Ebiquity plc

Hargreaves Lansdown plc

Actual Experience plc

Union Jack Oil plc

Tribal Group plc

TEAM plc

Destiny Pharma plc

AMTE Power plc

Work highlights

  • Advised Next Fifteen Communications Group plc on its successful and over-subscribed £50m placing to part fund the acquisition of Engine Acquisition Limited.
  • Advised Cenkos on the £150m AIM IPO of Lords Group Trading plc.
  • Advising Marshall Motors Holdings plc on its £325m recommended offer by Constellation Automotive.

Bird & Bird LLP

Bird & Bird LLP’s experience runs the gamut of capital markets transactions across leading exchanges including the AIM market and the Main Market of the London Stock Exchange. The firm handles IPOs, secondary fundraisings, public and private takeovers and restructurings, advising on the company and bank side. Another key area of expertise for the practice is corporate governance and ESG related advice. Clive Hopewell spearheads the team and focuses on equity financings and IPOs, with particular strength advising on IPOs for companies already listed on a foreign stock exchange.

Practice head(s):

Clive Hopewell

Other key lawyers:

Simon Allport; Sophie Eyre; Nick O’Donnell

Testimonials

‘The teams we have worked with have always be fit-for-purpose in that the right expertise has been brought in with no excess. Team meetings have been very well managed and reported on.’

‘As with any professional firm, it is the individuals that you work with that really decide whether you work with that firm or not. We have dealt with 2 senior individuals – Simon Allport and Sophie Eyre – both of whom have provided us with a superb service in different legal areas. Both have taken the time to really understand the needs of our business and have given practical and succinct advice.’

‘Nick O’Donnell provides an excellent service – combining technical expertise and experience with an easy charm, even in the most stressed of situations. His interpersonal skills give him the ability to give hard advice in a way that is constructive and easy to accept – and provides a practical way forward. Highly recommended.’

Key clients

Cloudbreak Discovery plc

JKX Oil & Gas

Strand Hanson Limited

Albion VCT

Serum Life Science Ltd

Joh. Berenberg Gossler & Co KG

WH Ireland Limited

Tirupati Graphite plc

Tekcapital Plc

DP Poland plc

Canaccord Genuity Limited

Liberum Capital plc

Westminster Group Plc

Work highlights

  • Assisted Imperial X plc (renamed Cloudbreak Discovery plc) on its reverse takeover and admission of its enlarged ordinary share capital to the standard listing segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange’s Main Market.
  • Advised long-standing client Strand Hanson Limited alongside H&P Advisors Limited, and VSA Capital Group Limited on Tungsten West’s IPO and admission to the AIM market.
  • Advised JKX Oil & Gas PLC on its delisting from the Main Market of the London Stock Exchange, $97.5m reduction of capital and helped the company effect an off-market buyback tender offer.

Charles Russell Speechlys LLP

The ‘technically savvy and very knowledgeableCharles Russell Speechlys LLP ECM practice specialises in the property, oil and gas, financial services and technology sectors. The firm handles a range of matters, notably takeovers, and has longstanding relationships with advisers, brokers and AIM Market Nomads. Practice head Andrew Collins specialises in corporate advice and transactional work; his team includes Paul Arathoon, who acts on capital market transactions for issuers and brokers on the Main Market and AIM, including debt and other non-equity capital issuances.

Practice head(s):

Andrew Collins

Other key lawyers:

Paul Arathoon; Anne-Marie Balfour; Edyta Brozyniak; Victoria Younghusband

Testimonials

‘CRS provides a team that is well balanced and partner led.’

‘The Company has been very well served by the lead partner, Andrew Collins. Andrew has a wealth of real estate and listed company experience and has guided the Board through a change of strategy over the last year.’

‘Anne-Marie Balfour has given timely and balanced advice over redrafting the executives’ service agreements. Her initiative and knowledgeable intervention provided a solution acceptable to all parties, while protecting the company’s best interests and involving the AIM nominated adviser.’

‘Excellent, personable service and team but technically savvy and very knowledgeable.’

‘Very responsive and friendly but provide great technical know how and service. Cost effective also, particularly for start up managers. I really value the input of Edyta Brozyniak and Victoria Younghusband who are both excellent.’

Key clients

Oracle Power

HeiQ Materials

CYBA

7digitial Group

Ergomed

1Spatial

Europa Oil & Gas

The Biotech Growth Trust

India Capital Growth Fund

Circle Property

Fidelity

Predator Oil & Gas

Transense Technologies

LiDCO Group

Dukemount Capital

Work highlights

  • Acting for AIM-listed client Caretech Holdings plc on a contested offer for the company.
  • Advised AIM quoted Transense Technologies plc on its share buy-back programme.
  • Advised the Board of India Capital Growth Fund, an investment company listed on the main market of the London Stock Exchange, on the procedure for facilitating its first redemption facility.

Dentons

Specialising in small-mid market IPOs and secondary fundraising work, Dentons’ experience spans a range of sectors, notably the technology and healthcare industries. The firm is particularly active in the AIM market, as well as advising US companies coming to the London Stock Exchange (LSE). Neil Nicholson leads the team and handles matters related to UKLA listing rules, the AIM rules of the LSE and the UK Takeover Code. Other key names in the practice include Darren Acres, who advises on UK and cross-border corporate finance transactions; and associate Verity Kent, whose forte is AIM market transactions.

Practice head(s):

Neil Nicholson

Other key lawyers:

Verity Kent; Darren Acres

Testimonials

‘Neil Nicholson consistently provides excellent strategic advice and has depth of experience across both equity capital markets and public M&A.’

‘Dentons benefits from a significant global business that we find particularly useful for managing cross-border ECM deals. We benefit from being able to receive coordinated advice across multiple jurisdictions.’

‘Team is very knowledgeable and pragmatic. They are keen to focus on getting deals done in the simplest way possible.’

‘Neil Nicholson is a very experienced and approachable lawyer.’

Key clients

Science in Sport plc

RA International plc

Cenkos Securities plc

Informa plc

Kinovo plc

Quiz plc

PRS REIT plc

Hurricane Energy plc

Menzies (John) plc

Stifel Nicolaus Europe

Canaccord Genuity

Ondine Biomedical

Work highlights

  • Advising Stifel Nicolaus Europe, as nomad and joint broker, and Liberum Capital, as joint broker, on a share placing for Science Group plc.
  • Advising Stifel Nicolaus Europe, as nomad and sole bookrunner, on a share placing for Seeing Machines Limited.
  • Advising Ondine Biomedical on its IPO and share placing on the AIM market of the London Stock Exchange.

Hill Dickinson LLP

Led by specialist in capital markets and M&A Michael Bennett, Hill Dickinson LLP’s ECM practice acts for issuers, nominated advisers, sponsors and brokers on Main Market, AIM and AQSE transactions. Cross-border work is a forte for the firm, which is particularly active in the pharmaceuticals and life sciences, medical cannabis, and energy and natural resources sectors.

Practice head(s):

Michael Bennett

Other key lawyers:

Shantanu Sinha

Testimonials

‘The team very quickly got to grips with the detail of the business and made the IPO process really straightforward for us.’

‘Shantanu Sinha is one of those rare individuals who can take a high level commercial view, whilst being all over the smallest details. He works extremely hard and never wastes time so everything gets done quickly and efficiently, within budget.’

Key clients

Big Technologies Plc

Yooma Wellness Inc.

Artemis Resources Limited

Agronomics Limited

Emmerson Plc

Arlington Group Asset Management Limited and WH Ireland Limited

Future Metals NL

Bens Creek Group Plc

Turner Pope Investments (TPI) Limited

Kanabo Group plc

Agronomics Limited

Bradda Head Lithium Limited

Orcadian Energy PLC

Firering Strategic Minerals plc

Genflow Biosciences Plc

Reabold Resources Plc

Hydrogen Future Industries PLC

ACP Energy PLC

Dekel Agri-Vision Plc

Spinnaker Acquisitions PLC/ Ondo InsurTech PLC

Work highlights

  • Advised Big Technologies Plc on the fifth largest IPO in AIM’s history. The company raised over £200m for itself and its shareholders and was admitted to trading with a market value of around £577m.
  • Advised AIM-listed client Agronomics Limited on an equity fundraise which raised gross proceeds of £62.5m.
  • Assisted Kanabo Group plc in becoming the first company to publish an FCA approved prospectus for a medical cannabis issuer.

Hogan Lovells International LLP

Acting for issuers and underwriters, Hogan Lovells International LLP has experience in IPOs, secondary offerings, retail share offerings and the private placements of securities, as well as being active in privatisations, REITs and US public offering and private placements. Daniel Simons focuses on corporate transactions, particularly ECM matters and domestic and cross-border M&A. He co-leads the team with Jonathan Baird, Ben Garcia, Tom Brassington, Nicola Evans and Erik Jamieson.

Practice head(s):

Daniel Simons; Jonathan Baird; Ben Garcia; Tom Brassington; Nicola Evans; Erik Jamieson

Testimonials

‘Dan Simons is a good, commercial and pragmatic lawyer.’

‘Jonathan Baird is one of the few people who can do the UK and US work really well.’

Key clients

Barclays Bank PLC

Jefferies International Limited

Numis Securities Limited

Electra Private Equity plc

Southern Energy

J.P. Morgan

UBS

Marathon Group

Goldman Sachs

Grainger plc

Clipper Logistics plc

Shaftsbury plc

Peel Hunt

Work highlights

  • Advised Electra Private Equity PLC on the demerger of hospitality group Hostmore plc, and the admission of the entire issued share capital of Hostmore to the premium listing segment of the FCA and to trading on the main market of the LSE
  • Advised Pantheon on the IPO of UK investment company Pantheon Infrastructure PLC.
  • Advised EFIC1, a special purpose acquisition company on its business combination with Dutch tech company Azerion, at an enterprise value of €1.3bn.

Mayer Brown International LLP

Mayer Brown International LLP represents issuers, investment banks, sponsors, placement agents and selling shareholders across the spectrum of ECM matters. Notable areas of work include public offerings and private placements, stock exchange listings, rights offerings, spin-offs, share buy-backs and demergers. The firm has a strong track record advising on IPO transactions, alongside capital raising and block trades. ‘Stand-out‘ Kate Ball-Dodd leads the team and focuses on corporate finance, M&A, equity fund raisings, joint ventures and corporate governance work.

Practice head(s):

Kate Ball-Dodd

Testimonials

‘Very strong partner led approach with senior involvement throughout. Collegiate approach and very joined up, with team members sharing transaction details seamlessly. Responsive and well diversified, it is the strongest ECM offering in the mid market.’

‘They have a very solutions driven philosophy and use their (and our) time well. They will always strive to ensure that the transaction progresses to plan but are very good at alerting the client if there are emerging issues.’

‘The stand-out is Kate Ball-Dodd.’

Key clients

Investec Bank plc

Liberbank, S.A.

Numis Securities Limited

Peel Hunt LLP

Velocys plc

Metrovacesa, S.A.

Vitruvian Partners

Lunglife AI

Promotora de Informaciones, S.A.

Work highlights

  • Advised Delaware-incorporated Lunglife AI, Inc. on its IPO on the Alternative Investment Market of the London Stock Exchange.
  • Advised Numis Securities Limited as sponsor and sole bookrunner in connection with the IPO of Seraphine Group plc, a digitally-led apparel brand, and on its admission to trading on the premium listing segment of the Main Market of the London Stock Exchange.
  • Advised Tungsten West on its £40m equity fundraise, its debt project financing and admission to AIM with an initial market capitalisation of £106m.

Memery Crystal (part of RBG Legal Services)

Focusing on handling ECM transactions for international companies, Memery Crystal (see also Rosenblatt) has expertise advising on listings on the Main Market and AIM, secondary fundraisings and dual listings. The firm’s sector strengths include the pharmaceuticals and life sciences, technology, natural resources and gaming industries, as well as a particular niche in the expanding cannabis market. Nick Davis is practice head and specialises in the cannabis, natural resources and technology sectors, with experience in London Stock Exchange and AIM transactions.

Practice head(s):

Nick Davis

Other key lawyers:

Kieran Stone

Testimonials

‘Memery Crystal’s independent, partner-led approach stands out from its competitors, combined with its depth of knowledge and experience, particularly for a firm of its size. The firm‘s priority is to its clients, meaning the team’s pragmatic and flexible approach, allied with its technical expertise ensures that the client’s goals are prioritised.’

‘Partners Nick Davis and Kieran Stone embody this approach, leading deals and differentiating themselves from their competitors with their focused, open and realistic approach, technical knowledge and ability to deliver a deal in line with what was promised.’

Key clients

Capital Partners

Yamana Gold

Cordel Group

Intuitive Investment Group

Graft Polymer (UK)

Shanta Gold

Taseko Mines

GAN plc

Gaming Realms

88 Energy

Kore Potash

Caldeonia Mining

Intelligent Ultrasound

Pure Gold

MOD Resources

Valeura Energy

VAALCO

Tethyan Resources

Kropz

Danakali

Petra Diamonds

Eneraqua Technologies

AFC Energy

Brave Bison Group

GreenRoc Mining

Zenova Group

MGC Pharmaceuticals

tinyBuild

Pelatro

Rainbow Rare Earths

Rambler Metals and Mining

Tlou Energy

Panmure Gordon

Cenkos Securities

Hannam Partners

Turner Pope Investments

Hybridian

Allenby Capital

Stifel

Berenberg

Tennyson Securities

Optiva Securities

Singer Capital Markets

Spark Advisory

Strand Hanson

Work highlights

  • Advising MGC Pharmaceuticals on the UK’s first-ever listing of a medicinal cannabis business on the Main Market.
  • Advising tinyBuild, a US-based leading video game developer and publisher on its admission to AIM and £154.4m oversubscribed placing.
  • Advising Zeus Capital as Nominated Advisor and Broker on Revolution Beauty’s £300m placing and admission to AIM.

Reed Smith LLP

Known for its international expertise, Reed Smith LLP has a solid track record in AIM market matters with sector focus on the life sciences, real estate and financial services industries. Delphine Currie spearheads the practice and has experience advising on IPOs, fundraises and complex regulatory issues, particularly in the real estate and financial services industries.

Practice head(s):

Delphine Currie

Testimonials

‘Incredibly practical and on point advice. Simple answers when needed to simple questions. Specialists in whatever function are always available and rapidly brought up to speed to help us address our challenges.’

‘Delphine Currie in particular is superb at seeing elegant solutions to seemingly intractable problems.’

Armstrong Teasdale

Experienced in acting on public market M&A transactions, Armstrong Teasdale has a track record in IPOs on AIM, with a focus on the natural resources, life sciences, retail, biotechnology, chemicals, e-commerce, financial services and technology sectors. Joan Yu leads the practice and handles AIM and LSE Main Market matters, as well as public takeovers and reverse takeovers. The team was boosted by the 2022 arrivals of Nick Heap from Bird & Bird LLP, who advises clients on Main Market, AIM and AQSE stock market matters; and Rashid Gaissin from KPMG Law in Kazakhstan, whose broad experience includes capital markets matters.

Practice head(s):

Joan Yu

Other key lawyers:

Nick Heap; Rashid Gaissin

Testimonials

‘Very capable team led by charismatic leader Joan Yu.’

‘Joan Yu – Commercial and results oriented.’

‘A strong firm in the small to mid cap space with a willingness to get the job done.’

‘Nick Heap is a first class lawyer who combines a sharp legal mind and knowledge of the law with an engaging personality and commitment to the client. I have no hesitation in recommending him to corporates.’

Key clients

Metals Exploration plc

Baron Oil plc

Victoria Oil & Gas plc

Empyrean Energy plc

United Oil & Gas plc

Samarkand Group plc

VSA Capital Group plc

Silverwood Brands plc

Pembridge Resources plc

Work highlights

  • Advised VSA Capital Limited in connection with the Rule 2.7 announcement for the recommended cash offer by Inform Information Systems Limited for the entire issued, and to be issued, ordinary share capital of Universe Group plc to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006 (Acquisition).
  • Advised Empyrean Energy Plc as part of its £7.623m fundraising to complete funding requirements for a Chinese offshore drilling project.
  • Advised Silverwood Brands Plc, a special purpose acquisition company on its successful placing and admission to trading on the Access Segment of the AQSE Growth Market.

BDB Pitmans

Recommended as ‘very experienced across a range of ECM transactions’, BDB Pitmans is known for advising sponsors, companies and directors in relation to IPOs, secondary fundraisings, the Takeover Code and other regulatory matters relating to public companies and the ECM. The firm has particular experience in AIM transactions. Philip Lamb leads the team that includes Nick McCarthy, who is ‘always available and strong on both detail and giving advice’.

Practice head(s):

Philip Lamb

Other key lawyers:

Nick McCarthy

Testimonials

‘The team is highly responsive, well resourced and punch above their weight. They are very experienced across a range of ECM transactions and offer good commercial advice.’

‘Nick McCarthy is always available and strong on both detail and giving advice. Nick has advised on some difficult transactions but his team always perform.’

‘Client focused and practical. All about getting the job done.’

‘Focused on getting the job done – practical. Good response times.’

Key clients

Sourcebio International PLC

Verici DX PLC

Contango Holdings Plc

Ten Entertainment Group PLC

EKF Diagnostics PLC

Immupharma plc

Circassia Group Plc

AssetCo Plc

finnCap

Zeus Capital Markets

Arden Partners PLC

WH Ireland

Tavira Securities

Mila Resources PLC

North Atlantic Smaller Companies Investment Trust PLC

Frenkel Topping Plc

FIH Group Plc

Quadrise Fuels International PLC

Strand Hanson

Spark Advisory

Oberon Securities

Burges Salmon LLP

Burges Salmon LLP acts for advisers, brokers and AIM companies on fundraisings and transactions, as well as providing advice in relation to regulatory and compliance issues. The firm’s experience includes public M&A, IPOs, secondary fundraisings, demergers and capital reorganisations. Corporate transactions specialist Nick Graves co-leads the team with Rupert Weston, who focuses on corporate finance work, advising on a range of equity market transactions.

Practice head(s):

Nick Graves; Rupert Weston

Key clients

Gooch & Housego plc

ITM Power plc

Michelmersh Brick Holdings plc

Peel Hunt LLP

WH Ireland Limited

Genus PLC

Stockdale Securities

Premier Miton Group plc

FirstGroup plc

EDP Renewables Europe, S.L.U.

Work highlights

  • Advised WH Ireland in its capacity as nominated adviser and broker to Northcoders Group plc, an independent provider of training programmes for software coding, on its flotation and placing.
  • Advised Nucleus Financial Group PLC, an AIM-quoted fintech provider of platform services to IFAs, on its highly-publicised £145m takeover by pensions and investment company James Hay Holdings.
  • Advised EDP Renewables Europe, S.L.U. on the acquisition of a 544 MW wind and solar portfolio across the UK and Ireland.

Covington & Burling LLP

The Covington & Burling LLP capital markets practice combines US capability with expertise in the life sciences, TMT, financial services and energy industry sectors. The firm’s work includes IPOs, rights issuances and other secondary offerings, Takeover Code work, pre-IPO private placements and compliance advice, as well as ESG matters. Cross-border M&A specialist Gregor Frizzell leads the team and can call on the expertise of Simon Amies, who has particular experience advising on ECM matters in the life sciences, technology and clean energy industries.

Practice head(s):

Gregor Frizzell

Other key lawyers:

Simon Amies; Trudy Dargevicuite

Testimonials

‘Simon Amies is good quality reliable advice and support.’

‘Trudy Dargevicuite is excellent – responsive, efficient, knowledgeable. A real pleasure to work with.’

Key clients

Allergy Therapeutics plc

Arecor Therapeutics plc

Canaccord

Cenkos Securities plc

Destiny Pharma plc

Ergomed plc

Peel Hunt LLP

ReNeuron Group plc

Sensyne Health plc

Zeus Capital

Work highlights

  • Advised Arecor Therapeutics PLC on its IPO on the AIM market and £20m placing, with a market capitalisation of approximately £62.5m.
  • Advised Sensyne Health plc in its £27.5m equity fundraising.
  • Advised Peel Hunt LLP, as Nomad and Joint Bookrunner, and finnCap Ltd, as Joint Bookrunner, in a £29.2m follow-on financing by Shield Therapeutics plc.

DAC Beachcroft LLP

Excellent operatorJonathan Deverill leads the DAC Beachcroft LLP practice and is experienced in M&A, disposals, shareholder agreements, joint ventures, bank finance work, co-investment structures and corporate reorganisations. The firm acts for issuers and for NOMADs/brokers, and has expertise advising AIM-listed clients on non-public acquisitions and disposals.

Practice head(s):

Jonathan Deverill

Testimonials

‘In depth knowledge, able to get up to speed very quickly and deliver on complex tasks within expedited time frames. They also have a very friendly and personable approach.’

‘Jonathan Deverill – Excellent operator who is dedicated and very adept at any tasks thrown his way.’

‘DAC Beachcroft is a fantastic firm to work with. They provide an excellent service.’

‘Very collaborative firm with partners bringing together expertise from different teams within the firm as appropriate for the client’s benefit.’

‘Jonathan Deverill is exceptionally responsive and always available – never worked with a partner who is so hands on. While very affable he is an excellent project manager who can make sure that deadlines are met.’

‘Very flexible approach to giving legal advice and so easy to deal with them, while they retain utmost professional standards and competence.’

‘Jonathan Deverill has a very creative approach to issues.’

Key clients

Poolberg Pharma plc

Deltex Medical Group plc

Voyager Life plc

Clear Capital Markets Limited

Hawkwing plc

Singer Capital Markets Securities Limited

Open Orphan plc

Zeus Capital Limited

Canaccord Genuity

VSA Capital Limited

CloudCoCo Group plc

CAP-XX Limited

Mercator Capital Management Fund LP

Mountfield Group plc (now U.K. SPAC plc)

Lords Group Trading plc

Warpaint London plc

Diaceutics plc

Work highlights

  • Advised Lords Group Trading plc – IPO on AIM.
  • Advised Poolbeg Pharma plc – IPO on AIM.
  • Advised Canaccord Genuity and VSA Capital Limited – advising on £29m fundraising (with warrants) by Invinity Energy Systems.

Dechert LLP

Known for its expertise in the MENA region, notably Lebanon and Egypt, Dechert LLP handles equity transactions, IPOs in Egypt, and a range of advice in the life sciences sector. Sean Geraghty focuses on M&A, IPOs, secondary offerings, joint ventures and general corporate matters. He co-leads the team with Patrick Lyons, whose strengths include equity capital, debt capital and emerging markets work.

Practice head(s):

Patrick Lyons; Sean Geraghty

Dorsey & Whitney

Active in the AIM market, Dorsey & Whitney represents corporates and investment banks on a range of equity capital markets transactions. Practice head Kate Francis is the key name for the firm and has ‘a wealth of experience in the equity capital markets sectors’, including working with issuers and nomads on IPOs and secondary placings as well as domestic and cross-border M&A.

Practice head(s):

Kate Francis

Testimonials

‘Kate Francis is excellent, detailed and fully in control of her transactions. She always finds the time to personally oversee key workstreams and is even fully looped in on the more mundane matters. She is personable and approachable and knows what the important issues are, so can focus a transaction to get the best result without getting distracted by point scoring.’

‘The team is partner led, with good quality associates providing capacity to turn work within expedited timetables.’

‘Kate Francis has a wealth of experience in the equity capital markets sectors. She has excellent technical knowledge, and I trust her to bring the key issues to my attention and provide sensible and practical advice.’

Key clients

Liberum Capital Limited

The Quarto Group Inc.

Watchstone Group plc

Investec Bank plc

Stifel Nicolaus Europe Limited

finnCap Limited

Canaccord Genuity Limited

Numis Securities Limited

Corero Network Security plc

Inland Homes plc

Microsaic Systems plc

WH Ireland Limited

Inland ZDP PLC (Standard List)

Work highlights

  • Advised Microsaic Systems plc on its institutional placing.

Druces LLP

Druces LLP is experienced in secondary fundraisings, acquisitions and new IPOs across AQSE, AIM and the Main Market, acting for issuers, financial advisers, nominated advisers and brokers. Clients note that ‘the commerciality of the team matches its excellent legal abilities’. Practice head Dominic Traynor is ‘an exceptional legal adviser, both commercial and practical’.

Practice head(s):

Dominic Traynor

Other key lawyers:

Jack Dervyn; Mark Lamph

Testimonials

‘Throughout the years whenever we needed work in a certain area Druces always was able to deliver with a strong team.’

‘Personal touch, long-standing relationships built on trust and hard work.’

‘The practice is close knit with a genuine feel to it. There is a lot of partner time which makes any client feel welcomed and appreciated. Overall the staff are extremely knowledgeable and can be trusted on any issue in the ECM space. As they are a smaller practice they can be more flexible and adapt when needed based on the transaction and the work to be completed.’

‘Very personable, easy to talk to and make everything seem simple.’

‘Dominic Traynor is very knowledgeable and trustworthy in all situations.’

‘Jack Dervyn is one of the most competent lawyers I have ever met. Brilliant both with clients and the technical nature of what needs to be done.’

‘The team’s size lends itself very well to having the key individuals being very familiar with my company’s operations, and match the appropriate level of experience to the tasks required. Druces internal communication is seamless. Most importantly, the commerciality of the team matches its excellent legal abilities; as a result we get practical, high quality legal advice, at a reasonable price.’

‘Dominic Traynor in particular is an exceptional legal adviser, both commercial and practical – his depth of experience in industry matters and general commerciality provides insight well beyond that expected of a legal adviser. His legal skills are excellent, and he effectively uses the support team.’

Key clients

Airnow PLC (formerly appScatter Group PLC)

Amedeo Resources PLC

Athelney Trust Plc

Beaumont Cornish Limited

Boston International Holdings plc

Caerus Mineral Resources Plc

Conico Ltd

Ecovista Plc

Egdon Resources PLC

Finablr PLC

Golden Metal Resources Ltd

Goldplat PLC

Great Southern Copper PLC

Greatland Gold PLC

GSTechnologies Ltd

Katoro Gold PLC

Kavango Resources plc

Kibo Energy PLC

MAST Energy Developments plc

Mosman Oil and Gas Ltd

Mustang Energy PLC

Nostra Terra Oil and Gas Company PLC

Oilex Ltd

Panthera Resources plc

Power Metal Resources plc

Red Rock Resources PLC

Regency Mines PLC

RentGuarantor Holdings PLC

Rockfire Resources PLC

SI Capital Ltd

SigmaRoc PLC

Savannah Resources PLC

Starvest PLC

Thor Mining PLC

TomCo Energy PLC

VSA Capital Limited

Work highlights

  • Advised MAST Energy Developments PLC, on its placing of new ordinary shares, issue of adviser shares and admission of the enlarged share capital to the Official List and to trading on the London Stock Exchange plc’s main market for listed securities to raise gross proceeds of approximately £5.5m.
  • Advised GSTechnologies Limited, the fintech and information technology solutions company, in connection with a secondary placing to raise a gross amount of approximately £1.4m.
  • Advised Beaumont Cornish Limited, Peterhouse Capital Limited and Shard Capital Partners LLP in connection with Bradda Head Holdings Limited’s admission to AIM and conditional placing to raise £6.2m before expenses.

Edwin Coe LLP

Experienced in advising AIM companies and their advisers on a range of transactions, Edwin Coe LLP handles listings on the London Stock Exchange as well as other recognised investment exchanges, including Acquis Exchange. Key strengths for the practice include advising on compliance issues and securities legislation. Russel Shear is a go-to name in the area and is head of the firm’s corporate and commercial team.

Practice head(s):

Russel Shear

Other key lawyers:

Daniel Bellau

Testimonials

‘Entrepreneurial busy firm.’

‘Daniel Bellau understands everything small cap with a commercial eye.’

‘Good senior team that takes a commercial approach to small cap equity capital markets.’

‘Both Russel Shear and Daniel Bellau provide excellent legal advice but also provide commercial solutions for their clients.’

Key clients

Palace Capital plc

Angelfish Investments plc

Hybridan LLP

Novum Securities Limited

Ethernity Networks Limited

HC Wainwright & Co.

Oberon Investments plc

Brandshield Systems plc

Obatan LLC.

SPARK Advisory Partners Limited

Oriole Resources Plc

Gowin New Energy Group Limited

Beaumont Cornish

Work highlights

  • Advised HC Wainwright & Co, US dealer broker, on a private placement of ordinary shares in an AIM quoted mining company.
  • Advised Fox-Davies Capital and Beaumont Cornish Ltd as the nominated adviser and broker on the AIM admission of Cleantech Lithium, a lithium battery research and development business.
  • Advising Beaumont Cornish (the Nominated Adviser), as well as finnCap and S.P. Angel (as joint brokers) on green energy company Atome Energy PLC’s admission to AIM.

Fladgate LLP

Acting for domestic and overseas companies, nominated advisers and brokers, Fladgate LLP’s expertise covers flotations, reverse takeovers and secondary fundraisings. The firm has a track record in cross-border matters and, in addition to advising on AIM transactions, has experience with listings and offerings on the Aquis Exchange. David Robinson spearheads the practice and specialises in equity capital markets work and public company and private company M&A.

Practice head(s):

David Robinson

Other key lawyers:

Neil Vickers; Orit Rioumine Gold; David Lee

Testimonials

‘The team as a whole covers the small-mid cap equity capital markets in terms of knowledge of the different stock markets and key industry sectors.’

‘The individuals in the team are both excellent lawyers and very good company making them a pleasure to work with. Particular stand outs are: David Robinson, Neil Vickers, Orit Rioumine Gold and David Lee.’

Key clients

4Global PLC

NFT Investments PLC

Windward Ltd.

Gfinity PLC

All Active Asset Capital Limited

Cenkos Securities plc

Pineapple Power Corporation plc

Silver Bullet Data Services

Global Petroleum Limited

Xexec ltd

East Side Games Inc. (formerly LEAF Mobile Inc.)

Angus Energy plc

SP Angel Corporate Finance LLP

Work highlights

  • Acted for 4Global PLC on its IPO on the AIM Market of the London Stock Exchange which raised £4m and valued the company at £24m.
  • Advised NFT Investments PLC, an investment company specialising in non-fungible tokens (NFTs), on its admission to the AQSE Growth Market.
  • Advised Windward Ltd., a leading predictive intelligence company seeking to digitalise the global maritime industry, on its £126m AIM listing on the London stock exchange.

Fox Williams LLP

Fox Williams LLP combines experience in the equity financing of AIM transactions with a track record in public takeovers and private M&A, as well as regulatory and corporate governance advice. Notable expertise includes advising directors on AIM and FCA investigation and disciplinary proceedings. The firm’s ECM work focuses on the key sectors of financial services, natural resources and technology, particularly fintech. Richie Clark leads the team and specialises in AIM listings and fundraisings.

Practice head(s):

Richie Clark

Key clients

finnCap Group Plc

Allenby Capital LLP

Shore Capital & Corporate Limited

Plexus Group Holdings Plc

Scotgold Resources

Summerway Capital Plc

Directa Plus Plc

Tatton Asset Management Plc

Westmount Energy Ltd

Cedarvale Holdings Ltd

Arden Partners Plc

Work highlights

  • Advised long-standing AIM listed client Summerway Capital plc on its £80m acquisition of Vertigrow Technology Ltd and associated £8.5m fundraise.
  • Advised long-standing client Allenby Capital Limited, Optiva Securities Limited and Clear Capital Markets Limited on the recent AIM IPO of Bens Creek Group plc and related placing.
  • Advised Directa Plus, a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, on a £7m secondary fundraising by means of a placing and direct subscription.

Locke Lord LLP

Locke Lord LLP advises domestic and international companies, boards of directors, nominated advisers, brokers, sponsors and underwriters on a broad range of transactions. The practice has experience in Main Market and AIM market transactions on the London Stock Exchange including premium and standard listings, secondary equity fundraisings, pre-IPO fundraisings and M&A transactions, as well as corporate governance and regulatory advice. Practice head Sean Page advises on public and private M&A, ECM and venture capital transactions.

Practice head(s):

Sean Page

Testimonials

‘Excellent knowledge of the rules and practical functioning of the ECM.’

‘Sean Page has many years experience in AIM, Standard List and the Main Market (Premium). His advice is always technically sound, practical and is always given in the context of the commercial objectives of the client.’

Key clients

Thalassa Holdings

ADM Energy PLC

Cataleya Energy Ltd‎

Adriatic Metals PLC

Roquefort Investments PLC

Anemoi International

Macfarlanes LLP

The Macfarlanes LLP ECM practice is co-led by Robert Boyle, who advises on a range of corporate transactions, particularly for listed clients; and Richard Burrows, whose experience covers capital markets transactions, public takeovers, private capital raisings and private acquisitions.

Practice head(s):

Robert Boyle; Richard Burrows

Michelmores LLP

Led by the ‘commercial and experiencedIan Binnie, the Michelmores LLP ECM practice specialises in the small-cap market. The firm advises companies, corporate finance houses and brokers on IPOs, fundraisings and M&A, as well as complex restructurings. Cross-border work is a particular strength for the team.

Practice head(s):

Ian Binnie

Testimonials

‘Understand SMEs.’

‘Ian Binnie is commercial and experienced.’

Key clients

Superdielectrics Group plc

Arden Partners Plc

SPARK Advisory Partners LLP

Allenby Capital Limited

Auctus Advisers LLP

Hybridan LLP

Mining, Minerals & Metals plc

Mobeus Equity Partners LLP

Panmure Gordon (UK) Limited

Singer Advisory LLP

S.P. Angel Corporate Finance LLP

Sutton Harbour Group plc

VSA Capital Limited

Work highlights

  • Advised Mobeus Equity Partners LLP on the up to £36m sale of its venture capital trust business including £20m vendor placing by AIM quoted acquirer Gresham House plc.
  • Advised Arden Partners plc as nominated adviser and broker in the £8.8m placing and admission to AIM of TSX-V listed Arrow Exploration Corp.
  • Advised S.P. Angel Corporate Finance LLP on its tender offer and off-market share buyback by JKX Oil & Gas plc following its delisting from the premium segment of the Official List.

Mills & Reeve LLP

Mills & Reeve LLP stands out for its technology and life sciences expertise, advising companies in these sectors seeking admission to the capital markets and handling fundraising and general corporate and commercial work. Stephen Hamilton spearheads the practice and has experience in the London Stock Exchange’s Main Market and AIM, including fundraisings, IPOs, M&A and corporate restructuring matters.

Practice head(s):

Stephen Hamilton

Other key lawyers:

Emma Plaxton

Testimonials

‘They are a small firm with good individuals so for smaller cap companies, one is an important client which drives a high level of attention and commitment to our work. A tight knit team that is efficient. Stephen Hamilton and his senior associate Emma Plaxton demonstrate these qualities.’

Key clients

Eckoh plc

Skillcast Group plc

Randall & Quilter Investment Holdings Ltd.

Midwich Group plc

IQGeo Group plc

Bango plc

Quixant plc

Scientific Digital Imaging plc

Xaar plc

Hybrid Software Group plc

GRC International plc

Diurnal Group PLC

Work highlights

  • Advised Skillcast Group plc on its £33m AIM IPO.
  • Advised 4BaseBio plc on its £14m AIM IPO.
  • Advised Eckoh plc on the £13m acquisition of Syntec Holdings together with a related £13.7m institutional AIM fundraising.

Penningtons Manches Cooper LLP

Penningtons Manches Cooper LLP has experience in a range of ECM transactions, including Main Market and AIM IPOs, secondary transactions and AQSE secondary fundraisings. Seb Orton leads the team and focuses on IPOs, secondary fundraisings, M&A and assisting listed companies with corporate governance mandates.

Practice head(s):

Seb Orton

Key clients

Oxford Cannabinoid Technologies Holdings PLC

finnCap

Stanford Capital

Elixirr International PLC

SkinBioTherapeutics plc

Peel Hunt

Work highlights

  • Advised Oxford Cannabinoid Technologies Holdings PLC on its Main Market IPO (including a £16.5m placing of new shares).
  • Advised finnCap (Nomad and joint broker) and Peel Hunt (joint broker) on Revolution Bars Group’s £21m equity fundraising on AIM.
  • Advised finnCap as Nomad and broker to Parsley Box on a £7m equity fundraising on AIM.

Squire Patton Boggs

Increasingly active on bank-side ECM instructions, Squire Patton Boggs handles a range of transactions across the energy, natural resources, technology, industrials and consumer sectors. Jane Haxby co-leads the team with Hannah Kendrick and both have expertise in M&A, fundraisings, takeovers and reorganisations.

Practice head(s):

Jane Haxby; Hannah Kendrick

Other key lawyers:

Jayson Marks

Testimonials

‘We use the corporate team for our corporate finance, ECM and M&A requirements, and they provide an excellent service – very knowledgeable, very responsive and great knowledge of our business.’

‘Our team is led by Jayson Marks, who provides terrific and personal service, he knows our industry and business and is very commercial, as well as being very knowledgeable and responsive.’

Key clients

Aptamer Group plc

GB Group plc

Genuit Group plc (formerly Polypipe Group plc)

Animalcare Group plc

Xeros Technology Group plc

WH Ireland Group plc & WH Ireland Limited

Canaccord Genuity Limited

Applied Graphene Materials plc

Studio Retail Group plc

Coats Group plc

Enwell Energy plc

Metals Exploration plc

Work highlights

  • Advised Aptamer Group plc on its AIM IPO and £10.8m placing with a market capitalisation of £80m.
  • Advised GB Group plc on its £300m placing and related acquisition of US business Acuant Intermediate Holding Corp for £547m.
  • Advised Canaccord Genuity Limited on the $41m placing, subscription and retail offer (via PrimaryBid) and $55m convertible bond issuance by Alaskan oil and gas-focused, Pantheon Resources plc.

Watson Farley & Williams LLP

Advising listed companies, investment banks, nomads and brokers, Watson Farley & Williams LLP has a track record in AIM-related matters, notably IPOs and related pre-IPO financing, secondary placings, rights issuances, takeovers, private placements and M&A, as well as corporate governance matters. The firm’s sector expertise lies in the transport, energy and natural resources industries. Practice head Chris Kilburn has particular experience in AIM transactions while corporate specialist Jan Mellmann covers the spectrum of capital markets advice.

Practice head(s):

Chris Kilburn

Other key lawyers:

Jan Mellmann

Testimonials

‘Watson Farley has a number of partners with diverse experience across the different elements of the oil and gas sector and different countries’ legal and regulatory systems.’

‘Jan Mellmann gets directly involved and understands the needs of smaller companies as well as large ones.’

Key clients

88Energy Limited

Aminex plc

Chaarat Gold Holdings Ltd

Chesterfield Resources Plc

Coro Energy plc

Eco (Atlantic) Oil & Gas

Pala Investments Limited

Sandfire Resources Limited

Tianqi Lithium Corporation

TORM plc

Tower Resources

United Oil & Gas plc

VSA Capital Limited

Work highlights

  • Advised Eco (Atlantic) Oil & Gas Ltd. on its successful oversubscribed $25m equity fundraising via a placing to institutional investors, a retail offer on the PrimaryBid platform and a subscription by way of a private placement.
  • Advised Advance Energy plc on the acquisition (via its subsidiary Advance Energy TL Limited) of a 50% interest in Carnarvon Petroleum Timor, Unipessoal Lda for a consideration of $20m and on raising $30m from the AIM market to fund the acquisition.
  • Advised TORM plc on its agreement to purchase eight 2007-2012 MR product tankers with chemical trading capabilities from TEAM Tankers Deep Sea Ltd., for a total cash consideration of $82.5m and the issuance of TORM shares.